my dad drew up something on paper but nothing legal - just that I would pay him back £500 per month to him and that the full title of the property would revert to him in the case of any arrears of 6 months that were not made good within 2 months of asking.
There was no registered charge on the property.
When my daughter moved back with me ( she had chosen to live with her father when we split ) we had a telephone conversation and he advised then that as she had come back to me - which is why he agreed the loan initially so I could buy somewhere for her to come and live with me I would no longer have to repay the loan.
This came a a great relief at the time as I had recently been made redundant and had just moved in the October of 2009
The letter I received today says the following:
We act for David Gadd who has accepted that he is your biological father ( I was 30 )
Our client has produced a copy of the loan agreement which you entered into with him on 4th June 2006 and by which our client loaned you the sum of £120,000 to enable you to purchase the freehold flat 14 Douglas Close Worthing Sussex.
We understand that you have defaulted on the loan which had initially been paid in October from 2007 ( when house was actually purchased as agreed ) and the sum outstanding to our client stands at £112,789.00
You will recall that the loan agreement provided that the full title would revert to our client once arrears of 6 months had arisen and that any defaults were to be made good within 2 months. We must therefore ask for your urgent proposals for the repayment of the learnt to our client, failing which our client will be looking to sell the property ( we haven't lived there since Oct 2009 ) to recover his investment.
Meanwhile to prevent any immediate court proceedings we should be grateful if you would confirm that you would be prepared to sign a legal charge to enable our client to register his interest at the Land Registry ( in what ? )
In addition we are further informed that you and your husband have taken delivery of certain items ( delivered to the address we moved to after Oct 2009 that we were not aware were coming until they had arrived) and addressed to him at your address. The value of these goods amount to £6,239.00 ( debateable ) and our client has tried without success to collect these items on several occasions ( he has emailed a couple of times over a couple of years , and left rude stroppy telephone messages - we now do not have a home phone as he would phone all hours of the day and night. )
Would you please let us have a response within the next 7 daysfailing which we anticipatebeing instructed to issue court proceedings against you without further notice.
I hope this is enough info for you to go on. Her is 76 lives in France and has the beginnings of dementia - as repeats himself often and forgets things.